CBN Order Banks To Resume Collection Of Old N500, N1000 Notes (See Detail)
The Central Bank of Nigeria has directed banks to begin collecting old N500 and N1,000 notes from the public as soon as possible. It did, however, set the maximum amount that banks could collect at N500,000. The CBN insisted that the old currencies were no longer legal tender. According to a bank source, the CBN ordered the banks to collect the funds...
Three Banks Looted By Hoodlums In Rivers
In Port Harcourt, the Rivers State capital, hoodlums destroyed three commercial banks and looted properties in protest of the Central Bank of Nigeria's naira redesign policy. According to PUNCH, the affected institutions on Friday afternoon were First Bank in Churchill and Keystone Bank along Aggrey Road, both in the old Port Harcourt Township area of Port Harcourt. Customers destroyed the First...
Cash Swap: Take Your Old Naira Notes To CBN If legitimate – Bashir Ahmad To Ganduje
Bashir Ahmad, President Muhammadu Buhari's special adviser on digital communication has challenged Governor Abdullahi Umar Ganduje of Kano State, to present his old naira notes to the Central Bank of Nigeria (CBN) if they are genuine. Ahmad was responding to Ganduje on Friday after he criticized the naira redesign program and said it was an attempt to undermine democracy and...
Old Naira Notes: SERAP Drags Buhari, Malami, CBN To Court
The Socio-Economic Rights and Accountability Project (SERAP) announced over the weekend that it had sued President Muhammadu Buhari for "the unlawful directive banning the use of old N500 and N1,000 banknotes, contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 banknotes remain legal tender." The Central Bank of Nigeria (CBN) and Abubakar...
2023: North Determines Next President, Will Be Asked To Vote Atiku – Primate Ayodele
Primate Elijah Ayodele of the INRI Evangelical Spiritual Church has made another revelation regarding the 2023 presidential election. He stated that the Peoples Democratic Party, PDP, presidential candidate Atiku Abubakar, would be asked to vote in the North. Primate Ayodele revealed in a statement signed by his media aide, Osho Oluwatosin, that the 2023 election will be based on ethnicity and...
Kaduna State Government Orders Agencies To Accept Old Naira Notes
This was contained in an official statement released by the Special Adviser to the Governor, Media, and Communication, Muyiwa Adekeye on 19th February 2023. He said, "In line with the subsisting order of the Supreme Court, the Kaduna State Government has directed its ministries, departments, and agencies to ensure that their collection agents continue to accept payments made in all...
Governors Are Devastated By New Naira Policy Because They Can’t Buy Votes Again — Sanusi
A former governor of the Central Bank of Nigeria, Lamido Sanusi, claims governors are angry with the new naira policy because they will not be able to buy votes during the February 25 and March 11 elections. On Sunday, Mr Sanusi advised would-be voters to disregard the governors and other politicians’ opposition to the naira swap. “It is the politicians’ plan...
EFCC Intercepts N32.4m New Naira Notes Allegedly Meant For Vote-buying In Lagos State
The massive operation by the Economic and Financial Crimes Commission, EFCC, to deter vote trading and other financial malfeasance ahead of tomorrow's presidential and national assembly elections may have begun paying dividends with the interception in Lagos of the sum of N32, 400,000 (Thirty-two Million, Four Hundred Thousand Naira) allegedly suspected to be used for vote buying in Lagos....
Supreme Court Bans Withdrawal Limit Policy
On 3 March 2023, the Supreme Court sitting in Abuja ruled in favour of a suit brought before it by Governors. The apex court has placed a ban on the CBN's Withdrawal Limit Policy. During the Apex court's judgment, it was read that "the directive on cash withdrawal limit is an infringement on the Citizens' Human Rights. People should have...
Finally, CBN Orders Banks To Pay, Receive Old Naira Notes
Prof Charles Soludo, Governor of Anambra State, announced on Monday that the Central Bank of Nigeria, CBN has directed commercial banks to accept and disburse old naira notes as deposits. According to ABN TV, Soludo, a former CBN governor, stated this in a statement posted on his social media accounts. He explained that the decision was issued by CBN Governor Godwin...
